Florida families with two children in daycare need to earn more than $320,000 annually to live comfortably without financial strain, according to a new study.
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The analysis by LendingTree found that Florida families require an income of $320,286 to cover childcare costs for two children while maintaining financial comfort. Consumer experts determined that childcare expenses for two children in Florida average approximately $22,000 per year.
The study reveals significant disparities among different demographic groups. Black and American Indian families face the greatest challenges in reaching the income threshold needed for comfortable living while paying for childcare.
The findings highlight the substantial financial burden that child care places on Florida families, with costs representing a significant portion of household budgets across the state.
Full study, here.
